Quote:
Originally Posted by KY_Canyon
. So based on 2010 prices, that's $11,295,000,000 worth of corn for ethanol production
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Quote:
Originally Posted by shovel
According to the Department of Energy and the Department of Agriculture, in this memo: http://www.ethanol.org/pdf/contentmg...tter_61208.pdf
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"We estimate that, if we had not been blending ethanol into gasoline, gasoline prices would be between 20 cents per gallon to 35 cents per gallon higher." . |
According to the EIA we use about 137,760,000,000 gallons of gasline per year.
How much gasoline does the United States consume? - FAQ - U.S. Energy Information Administration (EIA)
So if we saved 25 cents per gallon on that, it means we saved about 34 billion dollars on fuel by spending 11 billion dollars on corn. Sounds pretty cool to me.